Wall Street moved higher on Friday as investors digested a key jobs report, with Treasury yields and oil prices easing.
September’s nonfarm payrolls report indicated U.S. employers added 29,000 jobs, falling short of expectations, while the unemployment rate climbed to 4.2%. The Dow Jones consensus had projected job growth of 84,000 and a steady unemployment rate of 4.1%.
Treasury yields dropped following the softer-than-expected jobs data, leading investors to reassess the probability of a Federal Reserve rate hike later this month.
Shares of Nike (NKE) plunged 10.40% in premarket trading, extending a two-day decline after the retailer announced falling revenue and plans to execute staff layoffs in 2027.
Separately, President Donald Trump has dispatched 9,000 U.S. troops to the Middle East after cautioning that additional strikes against Iran may be forthcoming.
Markets closed slightly higher on Thursday, entering the new month with modest gains. Kyle Rodda, senior financial market analyst with Capital.com, remarked that Wall Street ended flat following a volatile session driven by bond market swings and another surge in oil prices.
“Long-term yields clocked up fresh multidecade highs in the U.S., with the move compounded by ISM Manufacturing data that revealed building cost pressures in the U.S. economy,” Rodda said.
Rodda noted the levels were short-lived, “with a retracement in yields taking the foot off the throat of the market.”
“But upside risks remain, especially after the jump in oil prices,” he added. “Though flow out of the Middle East, at least for crude, is normalizing, upward pressure on prices continues as geopolitical risk persists.”
“That risk premium increased last night off the back of reports the U.S. could be preparing to deploy another aircraft carrier and 10,000 troops to the Gulf.”
Following solid private payrolls and jobless claims figures earlier in the week, Rodda stated the decisive question is whether the labor market remains a minimal impediment to future rate increases.
“The odds of a Fed hike this month have receded in recent days, largely due to dovish Fed speak, mild inflation data and the burgeoning view that the central bank won’t hike before highly charged midterm elections,” he said. “But a hike is considered a matter of when and not if, with a rate rise baked in for before the end of the year.”
This story was originally published by TheStreet on Oct 2, 2026, where it first appeared in the Stock Market Today section.